Warid Telecom is a joint venture between Abu Dhabi Group & SingTel Group. Abu Dhabi Group entered into a strategic alliance with Singapore Telecom. Subsequent to this transaction in July 2007, telecom giant SingTel acquired 30% percent equity stake in Warid Telecom, Pakistan, for US$758 million. This partnership is part of a strategy to support Warid Telecom’s continued growth and to enhance its market position.
Abu Dhabi Group, one of the largest business groups in the Middle East and the single largest foreign investor in Pakistan. It has diversified business interests, offering strong financial resources and extensive management expertise that result in commercial success for several institutions.
SingTel’s investment in mobile operations include, Advanced Info Service (AIS) –Thailand, (21.4%), Bharti Telecom Group – India (30.5%), Optus Telecom – Australia (100%), Globe Telecom – Philippines (44.5%), Pacific Bangladesh Telecom (PBTL) - Bangladesh (45%), Telkomsel – Indonesia (35%) and Warid Telecom – Pakistan (30%).